Noncontrolling interests (Tables)

12 Months Ended

Jun. 30, 2023

Noncontrolling Interest [Line Items]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Table Text Block]

The following table presents the reconciliation of changes in our noncontrolling interests:


	Redeemable Noncontrolling Interest		Noncontrolling Interest
Balance as of June 30, 2021	$	71,120	$	—

Acquisition of noncontrolling interest (1)	4,453		—

Accretion to redemption value (2)	61,962		—

Net income attributable to noncontrolling interests	3,761		—
Distribution to noncontrolling interests (3)	(3,963)		—
Purchase of noncontrolling interest (4)	(2,165)		—

Foreign currency translation	(3,685)		—
Balance as of June 30, 2022	131,483		—

Acquisition of noncontrolling interest (1)	—		365
Accretion to redemption value (2)	(7,236)		—
Net income attributable to noncontrolling interests	180		83
Distribution to noncontrolling interests (3)	(3,652)		—
Purchase of noncontrolling interest (4)	(95,567)		—
Reclassification to mandatorily redeemable noncontrolling interest (5)	(9,582)		—

Foreign currency translation	(4,733)		11
Balance as of June 30, 2023	$	10,893	$	459

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(1) During fiscal years 2023 and 2022, we acquired the majority equity interests in two separate immaterial businesses within our PrintBrothers reportable segment.

(2) Accretion of redeemable noncontrolling interests to redemption value recognized in retained earnings is the result of changes in the estimated redemption amount to the extent increases do not exceed the estimated fair value.

(3) Distributions to noncontrolling interests include contractually required profit sharing payments made annually to the minority interest holders in one of the PrintBrothers businesses.

(4) As discussed above, we purchased an additional 10% to 11% of the equity interests in three PrintBrothers businesses during the second quarter of fiscal year 2023, as well as the 1% minority interest in our BuildASign business. In fiscal year 2022, we paid the final redemption amount to one minority equity interest holder in our PrintBrothers businesses, which we agreed to purchase in fiscal year 2021.

(5) During the second quarter of fiscal year 2023, the minority equity interest holders of three PrintBrothers businesses exercised a put option that triggered a mandatory redemption feature for the remaining minority equity interests. The remaining minority equity interests were reclassified to mandatorily redeemable noncontrolling interests, as part of other liabilities within the consolidated balance sheets. Refer above for additional information regarding the transaction and Note 9 for additional details about the reclassified liability balance.